DUBLIN–(BUSINESS WIRE)–The “Middle East and Africa Mobile Payment Methods 2022” report has been added to ResearchAndMarkets.com’s providing.
This report summarizes the most recent and future developments within the markets and offers an outline of the expansion trajectory of the digital fee strategies throughout international locations within the area.
The expansion sample of digital fee strategies reminiscent of cellular wallets is totally different throughout the area, with some international locations progressing greater than the others
Survey respondents within the Center East and Africa believed that digital wallets are anticipated to be the fee technique most most popular by the customers by 2025.
Nevertheless, not all international locations within the area are progressing on the identical price. The UAE, Saudi Arabia, and Egypt are the drivers of the expansion, whereas international locations reminiscent of Nigeria, Israel, and Jordan lag behind. In Nigeria, the share of cellular pockets customers is forecasted to develop twofold between 2020 and 2025, however it’s going to nonetheless be low as in comparison with different international locations within the area.
The cellular pockets transactions by way of worth and quantity are projected to see a double-digit CAGR in the identical interval, with worth reaching a sure billion Euros by 2025. Moreover, the variety of cellular fee transactions within the nation greater than doubled between 2020 and 2021.
In Israel, greater than three-quarters of the funds got here by way of playing cards in 2021, with a small share of funds coming by way of digital wallets. Nonetheless, greater than half of bank card funds have been contactless and got here by way of digital wallets in 2021.
Regardless of the rise in cellular fee strategies in Africa, sure limitations impede the expansion path
The digital funds use in Center East & Africa noticed a rising development even earlier than the pandemic and continued its growth submit pandemic. The large development within the variety of digital fee transactions and card funds in UAE and Saudi Arabia respectively may be attributed to the outbreak of the pandemic.
Furthermore, greater than three quarters of the surveyed fee professionals believed that the cashless funds within the area accelerated as a result of pandemic. The digital level of gross sales retail transactions in Saudi Arabia doubled in 2021. Regardless of the growing adoption of digital funds in Africa, lack of know-how and relevance have been the principle limitations for cellular cash account possession.
Despite the fact that the area faces some advanced limitations by way of the usage of cellular funds, cellular cash suppliers and different stakeholders are taking the related steps to scale back these limitations.
As an illustration, in Senegal greater than two-thirds of the surveyed adults used cellular cash regardless that half of them had difficulties in studying and writing, as per a survey cited within the report.
Key Questions Answered
- What are the fee strategies which can be forecasted to develop in Center East and Africa by 2025?
- What number of cellular wallets are forecasted to be in use in Center East and Africa by 2025?
- What’s the forecasted digital fee transaction worth in UAE by 2030?
- What have been the principle causes talked about for proudly owning cellular wallets in Jordan in 2021?
Nations Coated
- Egypt
- Israel
- Jordan
- Kenya
- Nigeria
- Saudi Arabia
- UAE
Key Matters Coated:
1. Administration Abstract
2. World Developments
- On-line & Cellular Fee Tendencies, July 2022
- Worth of Digital Pockets Transactions, in USD trillion, 2022f & 2026f
- Cellular Fee Market Measurement, in USD trillion, 2021 & 2028f
- Variety of B2C E-Commerce Transactions Paid by OEM Cellular Fee Apps, in billions, 2022f & 2026f
- Most Used Fee Strategies When Procuring On-line Throughout The Pandemic, in % of On-line Buyers, by Chosen Nations, April 2021
- Worth of Biometrically Authenticated Distant Cellular Funds, in USD billion, 2022e & 2027f
- Quantity of Biometrically Authenticated Distant Cellular Funds, in billions, 2022e & 2027f
- Variety of Cellular Contactless Transactions, in billions, 2021e & 2023f
- Proximity Cellular Fee Customers Worldwide, in thousands and thousands, and 12 months-on-12 months Change, in %, 2020-2025f
- Proximity Cellular Fee Person Penetration, in % of Smartphone Customers, 2020-2025f
- Variety of Cellular Pockets Customers, by Area, in thousands and thousands, 2020 & 2025f
- Proximity Cellular Fee Customers in Choose Nations, in % of Smartphone Customers, 2021e
- Fee Strategies Accepted by On-line Retailers, by Already Accepted and Deliberate, in % of On-line Retailers, February 2022
- Breakdown of Digital Banking Fraudulent Transactions, by Channel, incl. Cellular App, in %, Q3 2019 – Q2 2021
3. Center East & Africa
3.1. Regional
- On-line & Cellular Fee Tendencies, July 2022
- Most Most well-liked Fee Strategies by 2025, in % of Respondents, 2020
- Variety of Cellular Wallets in Use, in thousands and thousands, and 12 months-on-12 months Change, in %, 2020-2025f
- Overview of Cellular Cash Statistics in Africa, incl. Variety of Reside Companies, Registered Accounts, in thousands and thousands, Lively Accounts, in thousands and thousands, Transaction Quantity in thousands and thousands, and Transaction Worth, in USD billion, and 12 months-on-12 months Progress, in %, by Sub-Area, 2021
3.2. UAE
- Cellular Pockets Person Penetration, in % of Inhabitants, 2020 & 2025f
- Digital Fee Transaction Worth, in USD billion, 2020 & 2030f
- Cellular Pockets Transaction Worth, in USD billion, and Quantity, in thousands and thousands, 2020 & 2025f
- Common Annual Digital Fee Transaction Worth Per Person, in USD, 2019-2021
- Variety of Digital Fee Transactions, in billions, 2020 & 2030f
- Breakdown of Most Used Fee Strategies, in %, 2021
- View On Digital Funds, in % of Retailers, 2020
3.3. Saudi Arabia
- Cellular Pockets Person Penetration, in % of Inhabitants, 2020 & 2025f
- Cellular Pockets Transaction Worth, in USD billion, and Quantity, in billions, 2020 & 2025f
3.4. Israel
- Breakdown of Most Used Fee Strategies, in %, 2021
- Breakdown of Forms of Credit score Card Funds, in %, 2021
3.5. Jordan
- Breakdown of Cellular Pockets Utilization, by Banked and Unbanked, in % of Respondents, 2021
- Causes For Proudly owning Cellular Wallets, in % of Cellular Pockets Homeowners, 2021
3.6. Egypt
- Cellular Pockets Person Penetration, in % of Inhabitants, 2020 & 2025f
- Cellular Pockets Transaction Worth, in USD billion, and Quantity, in billions, 2020 & 2025f
- Variety of Cellular Wallets, in thousands and thousands, H1 2020 & H1 2021
3.7. Nigeria
- Cellular Pockets Person Penetration, in % of Inhabitants, 2020 & 2025f
- Cellular Pockets Transaction Worth, in USD billion, and Quantity, in billions, 2020 & 2025f
- Variety of Cellular Fee Transactions, in thousands and thousands, and Worth, in NGN billion, 2017-2021
3.8. Kenya
- Cellular Fee Statistics, incl. Variety of Transactions, in Tens of millions, Worth of Transactions, in KES Billion, Variety of Accounts, in Tens of millions, and Variety of Brokers, in Hundreds, 2011-2021
For extra details about this report go to https://www.researchandmarkets.com/r/nk4dko
